Maharashtra GST grew by 13.46% at Rs 21,403 crore in September

Maharashtra GST grew by 13.46% at Rs 21,403 crore in September

It rose by 29% compared to Rs 16,584 crore in September 202.

Sanjay JogUpdated: Saturday, October 01, 2022, 03:52 PM IST
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Maharashtra GST grew by 13.46% at Rs 21,403 crore in September | Photo: Representative Image

Maharashtra continues to top among other states in the GST collection for the month of September, as it has grown by 13.46% at Rs 21,403 crore against Rs 18,863 crore in August. The State GST collection grew by a record 29% compared to Rs 16,584 crore in September 2021. At the all-India level, the gross revenue collection comprising Central GST, State GST and Inter-State GST was Rs 1,47,686 crore against Rs 143,612 crore in September.

A state finance department officer said, ‘’The rise in state GST collection is due to growth in the economy despite the ongoing Ukraine-Russia war. Further, easing of oil prices has been a big positive and an increase in GST filings due to churn in various sectors after two years of pandemic has also led to a surge in state GST collection.’’

The Maharashtra Legislature, during the monsoon session, passed the amended Maharashtra Goods and Services Tax (GST) Act, 2017. The Shinde-Fadnavis government had said the amendment was needed to put an end to all hawala transactions, adding that there was a misconception that GST had increased in the state whereas all they had done was to remove all anomalies.

Maharashtra’s state GST collection was Rs 22,219 crore in July, Rs 22,341 crore in June, Rs 20,313 crore in May and Rs 27,495 crore in April.

The State GST (SGST) continues to be the major contributor of tax revenue as it contributes over 42.59%, followed by taxes on sales, trades at 20.19% and stamp duty and resignation fees at 15.48%.  

In 2022-23, state GST (SGST) is estimated to be the largest source of its own tax revenue (47%).  SGST revenue in 2022-23 is estimated at Rs 1,19,900 crore, which is an increase of 11% over the revised estimates of 2021-22.

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